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Rexam plc
Rexam plc
12/31/2012 | Press release
Rexam to complete sale of Personal Care business
distributed by noodls on 12/31/2012 03:24
Latest News
31 December 2012
Rexam to complete sale of Personal Care business
Rexam, the global consumer packaging group, confirms that it has received approval from the Chinese authorities and anticipates completion of the sale of its Cosmetics, Toiletries and Household care products business to an affiliate of Sun European Partners, LLP for US$459m in cash, subject to closing accounts adjustments, later today. This, together with the sale of the High Barrier Food business (as announced on 31 August 2012), finalises the sale of Rexam's Personal Care business for a total of US$709m (£439m) subject to adjustments.
On 3 July 2012, Rexam announced its intention to return around £370m to shareholders following completion of the disposal of Personal Care. Rexam anticipates that on or about 8 January 2013 it will post a circular to shareholders regarding the proposed Return of Cash by way of a B share scheme and also a share capital consolidation. The circular will also include notice of a general meeting.
Enquiries
Investors
Sandra Moura, Head of Investor Relations, Rexam +44 20 7227 4100
Media
Jonathan Thornton, Head of Communications, Rexam +44 20 7227 4100
Katharine Wynne, Tulchan Communications +44 20 7353 4200
Martin Robinson, Tulchan Communications +44 20 7353 4200
